We Cannot Predict the Effect on the Market Clearing Price

question 86

Multiple Choice

We cannot predict the effect on the market clearing price, but know that the equilibrium quantity will decrease when

• A) supply increases and demand decreases
• B) supply decreases and demand increases.
• C) supply and demand for a product simultaneously decrease.
• D) supply and demand for a product simultaneously increase.

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Definitions:

Chemical Compound

A substance consisting of two or more different elements bonded together in a fixed proportion.

Mood

The order of the standard forms that make up the premises and conclusion of a categorical syllogism.

Syllogism

A form of logical reasoning where a conclusion is drawn from two given or assumed propositions (premises); each of which shares a common or middle term not present in the conclusion.

Major Term

In a syllogism, the predicate of the conclusion, representing the category into which the subjects are being classified.